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IRVINE, CA-As healthcare moves away from the hospital toward retail settings, many retail landlords are finding themselves for the first time involved in build-outs and tenant improvements for medical practices. While this trend is welcome among most landlords, they may not be prepared for the high cost of some of these improvements, says Sonya Dopp-Grech, SVP/director of healthcare services for NAI Capital here.

“In an attempt to lower costs driven by healthcare reform, a major trend in the healthcare real estate market is toward consolidation,” says Dopp-Grech. “It appears smaller practices are merging with larger groups and pursuing space in MOBs or retail centers for services previously being offered in a hospital setting. This change can lower the overall cost per square foot to provide many outpatient ambulatory services.”

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